From Investing.com: 2024-08-05 01:50:50

Stock markets in Asia plummeted while bond prices surged as worries of a U.S. recession caused investors to flee from risky assets. Nasdaq futures dropped 3.7% and the S&P 500 fell 1.8%. Japanese stocks saw losses not seen since the 2011 global financial crisis. Yields on 10-year Treasuries hit 3.723%, the lowest in over a decade. The July payrolls report sparked speculation that the Federal Reserve may cut rates by 50 basis points, with Goldman Sachs forecasting quarter-point cuts in September, November, and December. Investor uncertainty also impacted the U.S. dollar, which fell against major currencies. Gold prices surged while oil prices fluctuated due to Middle East tensions and global demand concerns.



Read more at Investing.com: Stocks trampled in stampede from risk, bonds eye rapid rate cuts By Reuters